1. Field of the Subject Disclosure
The subject disclosure relates to generating and categorizing transaction records. More specifically, the subject disclosure relates to generating a transaction record of a commercial transaction conducted by a user, transmitting the transaction record to a server, and categorizing the transaction record for subsequently providing related services to the user.
2. Background of the Subject Disclosure
Personal finance is a painstaking endeavor for almost anyone except professional accountants. A tremendous amount of energy and resources are dedicated towards tracking financial transactions, including expenses such as purchases, etc., for reasons such as budget management. Tracking expenses may be performed by saving physical receipts generated at a point-of-sale, then manually compiling the information from the physical receipts. However, amassing large numbers of physical receipts and processing them at specific intervals (monthly, etc.) is an inefficient process. Even as the information age progresses and increasing numbers of users perform financial transactions electronically, there is still no convenient mechanism for managing such transactions. Moreover, there are limited means presently available for seamlessly sharing transaction information, whether historical or in real-time, with other entities such as friends, service-providers like accountants, merchants, etc.